Robinhood CEO argues accredited investor rules block wider access to private AI firms

What was said

"A lot of the top AI companies like OpenAI and Anthropic, for instance, are private. They're going into the trillions of val of dollars of valuation and there's a small circle of wealthy insiders that's benefiting from all the growth. It's not broadly distributed."

Tenev argues that fast-growing private companies—citing OpenAI and Anthropic—are concentrating gains among “a small circle of wealthy insiders”. He says Robinhood is pushing for reform of accredited investor standards and is offering exposure through pooled products such as its Robinhood Ventures funds.